Bangkok-based phishing syndicate arrested for 1.7 billion won fraud

South Korean police have referred 24 individuals to prosecutors following a joint operation with Thai authorities to dismantle a phishing syndicate based in Bangkok. The group, which operated through fake dating and solicitation websites, allegedly defrauded victims of approximately 1.77 billion won.

Between August last year and June this year, the organization moved its base through Cambodia and Vietnam before settling in a rented villa in Bangkok. The group utilized a sophisticated hierarchy, including leaders, managers, and tiered consultants, to carry out their schemes. They lured victims with promises of meetings with influencers or models, then demanded escalating payments for various excuses, such as security authentication fees, system recovery costs, and reservation deposits.

While 11 victims have been officially identified with losses totaling 500 million won, investigators estimate the total damage could involve over 100 victims and reach 1.77 billion won. To evade detection, the group rotated through 19 different borrowed bank accounts every two weeks. Nine organization members were detained, while 14 account holders were referred without detention. Police are currently seeking 12 additional members, eight of whom are believed to be abroad and are subject to Interpol notices.